Tapestry, Inc. (NYSE:TPR) CEO Sells $681,975.74 in Stock

Tapestry, Inc. (NYSE:TPR) CEO Todd Kahn sold 7,786 shares of Tapestry stock in a transaction on Friday, February 21st. The stock was sold at an average price of $87.59, for a total value of $681,975.74. Following the completion of the transaction, the chief executive officer now owns 201,531 shares in the company, valued at $17,652,100.29. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Tapestry Stock Down 0.4 %

Shares of NYSE TPR traded down $0.30 during trading hours on Monday, hitting $84.29. The stock had a trading volume of 5,740,820 shares, compared to its average volume of 5,118,729. The company has a market capitalization of $17.45 billion, a P/E ratio of 24.43, a P/E/G ratio of 2.01 and a beta of 1.58. The firm’s 50-day moving average price is $72.63 and its two-hundred day moving average price is $56.75. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.05 and a current ratio of 1.58. Tapestry, Inc. has a 52 week low of $35.23 and a 52 week high of $90.85.

Tapestry (NYSE:TPR) last posted its earnings results on Thursday, February 6th. The luxury accessories retailer reported $2.00 EPS for the quarter, topping the consensus estimate of $1.70 by $0.30. Tapestry had a net margin of 11.74% and a return on equity of 44.00%. During the same period in the prior year, the business earned $1.63 earnings per share. Analysts anticipate that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 24th. Shareholders of record on Thursday, March 6th will be issued a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, March 6th. This represents a $1.40 annualized dividend and a yield of 1.66%. Tapestry’s dividend payout ratio (DPR) is currently 40.58%.

Wall Street Analysts Forecast Growth

TPR has been the topic of a number of analyst reports. Raymond James reissued an “outperform” rating and issued a $88.00 price target (up previously from $79.00) on shares of Tapestry in a research note on Friday, February 7th. TD Cowen cut shares of Tapestry from a “buy” rating to a “hold” rating and set a $52.00 target price for the company. in a report on Tuesday, October 29th. Barclays boosted their price target on shares of Tapestry from $87.00 to $100.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $65.00 price objective on shares of Tapestry in a research note on Tuesday, January 21st. Finally, StockNews.com cut shares of Tapestry from a “buy” rating to a “hold” rating in a research report on Saturday, February 15th. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.53.

Institutional Trading of Tapestry

Several large investors have recently made changes to their positions in the stock. American Trust bought a new position in shares of Tapestry in the 4th quarter valued at approximately $253,000. Forum Financial Management LP bought a new stake in Tapestry during the fourth quarter worth approximately $333,000. Michels Family Financial LLC acquired a new position in Tapestry during the fourth quarter valued at approximately $948,000. Vise Technologies Inc. bought a new position in shares of Tapestry in the fourth quarter valued at approximately $215,000. Finally, Focus Partners Advisor Solutions LLC acquired a new stake in shares of Tapestry in the fourth quarter worth $212,000. Institutional investors own 90.77% of the company’s stock.

Tapestry Company Profile

Tapestry, Inc provides luxury accessories and branded lifestyle products in the United States, Japan, Greater China, and internationally. The company operates in three segments: Coach, Kate Spade, and Stuart Weitzman. It offers women’s handbags; and women’s accessories, such as small leather goods which includes mini and micro handbags, money pieces, wristlets, pouches, and cosmetic cases, as well as novelty accessories including address books, time management and travel accessories, sketchbooks, and portfolios; and belts, key rings, and charms.